Wenfeng Group: The 124 million shares held by Zheng Suzhen, the mother of Xu Xiang, will be sold through judicial auction.

Wenfeng Corporation announced that Zheng Suzhen, a shareholder holding more than 5% of the company's shares, holds 124 million unrestricted circulating shares, accounting for 6.70% of the total share capital of the company, which will be judicially auctioned on the JD.com network judicial auction platform. The judicial auction will not have a significant adverse impact on the company's operations and management, nor will it affect the company's controlling shareholders and actual controllers. The outcome of the auction is uncertain, and the company will closely monitor the progress and fulfill its disclosure obligations. According to relevant regulations, the transferee shall not reduce its holdings within 6 months after the transfer.